CSB Financial Education

Managing a Checking Account

Welcome to Cambridge Savings Bank's Financial Education Program! We'd like to learn what you

know - and what you may be unsure of when it comes to managing your money. Let's get started!

Question Title

1. Please select your group number and survey you are taking today.

Question Title

2. Who is the “Payee” on a check?

The person who pays the check

The bank upon which the check is drawn

The person to whom the check is made out

Not sure

Question Title

3. What is a “Routing Number”?

A number that represents a particular branch of your bank

A number that represents your entire bank

A number that indicates which route your bank uses to process your check

Not sure

Question Title

4. What does it mean to “endorse” a check?

Sign the back of the check to validate ownership of the money

Indicate that you know there is enough money in the account to pay the check

Sign the front of the check to make it legally binding

Not sure

Question Title

5. What is the main difference between a debit card and a credit card?

Only credit cards offer reward points

You can only get cash from a debit card

Debit cards take money directly from your checking account

Not sure

Question Title

6. Direct deposits of your paycheck are available to withdraw when?

Immediately

After one business day

After one calendar day

Not sure

Question Title

7. Why set up text or email alerts from your bank?

It is the most reliable way to see all your transactions

It is the most convenient way to see all your transactions

They may help you notice fraud, loan payment dates or low balances

Not sure

Question Title

8. Why learn how to use your bank’s online and mobile banking systems?

It is a quick and easy way to manage your account

These are the only ways account holders process transactions now

It is the only way of safely transferring money

Not sure

Question Title

9. Why make sure to receive your bank statements online rather than on paper?

Online statements are the only legally binding record of your transactions

They are received more quickly, convenient to access & store, and may reduce fraud

Paper statements are the best way to store your statements

Not sure

Question Title

10. Can you use your phone to deposit a check?

No, because your bank must verify your identity before accepting the check

Yes, with mobile check deposit

No, because your bank needs the actual check to receive the money

Not sure

Question Title

11. Mobile Wallet is…

More secure than your physical debit card. Card numbers are never transmitted to the merchant, keeping your information private

An add-on feature with a monthly fee

Able to be used everywhere

Not sure